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Side-by-side financial comparison of Clearwater Paper Corp (CLW) and DOUGLAS DYNAMICS, INC (PLOW). Click either name above to swap in a different company.
Clearwater Paper Corp is the larger business by last-quarter revenue ($360.3M vs $184.5M, roughly 2.0× DOUGLAS DYNAMICS, INC). DOUGLAS DYNAMICS, INC runs the higher net margin — 7.0% vs -3.6%, a 10.5% gap on every dollar of revenue. On growth, DOUGLAS DYNAMICS, INC posted the faster year-over-year revenue change (28.6% vs -4.7%). Over the past eight quarters, DOUGLAS DYNAMICS, INC's revenue compounded faster (38.9% CAGR vs 2.3%).
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
General Dynamics Corporation (GD) is an American industrial and technology company based in Reston, Virginia. It is primarily a developer and producer of advanced military equipment of a wide variety, such as nuclear submarines, main battle tanks, and armoured fighting vehicles. It is also the manufacturer of the civilian aviation Gulfstream business jets and a provider of information technology services. The company is the 3rd largest of the top 100 contractors of the U.S. federal government...
CLW vs PLOW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $360.3M | $184.5M |
| Net Profit | $-12.8M | $12.8M |
| Gross Margin | -0.2% | 26.1% |
| Operating Margin | — | 10.5% |
| Net Margin | -3.6% | 7.0% |
| Revenue YoY | -4.7% | 28.6% |
| Net Profit YoY | -103.2% | 62.3% |
| EPS (diluted) | — | $0.54 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $360.3M | — | ||
| Q4 25 | $386.4M | $184.5M | ||
| Q3 25 | $399.0M | $162.1M | ||
| Q2 25 | $391.8M | $194.3M | ||
| Q1 25 | $378.2M | $115.1M | ||
| Q4 24 | $387.1M | $143.5M | ||
| Q3 24 | $393.3M | $129.4M | ||
| Q2 24 | $344.4M | $199.9M |
| Q1 26 | $-12.8M | — | ||
| Q4 25 | $38.3M | $12.8M | ||
| Q3 25 | $-53.3M | $8.0M | ||
| Q2 25 | $2.7M | $26.0M | ||
| Q1 25 | $-6.3M | $148.0K | ||
| Q4 24 | $199.1M | $7.9M | ||
| Q3 24 | $5.8M | $32.3M | ||
| Q2 24 | $-25.8M | $24.3M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | 26.1% | ||
| Q3 25 | 4.7% | 23.5% | ||
| Q2 25 | 11.0% | 31.0% | ||
| Q1 25 | 9.7% | 24.5% | ||
| Q4 24 | 3.8% | 24.9% | ||
| Q3 24 | 7.7% | 23.9% | ||
| Q2 24 | -0.6% | 30.7% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 10.5% | ||
| Q3 25 | -13.9% | 8.7% | ||
| Q2 25 | 2.5% | 19.0% | ||
| Q1 25 | -1.1% | 2.8% | ||
| Q4 24 | -4.0% | 9.0% | ||
| Q3 24 | -0.3% | 35.4% | ||
| Q2 24 | -13.6% | 18.2% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | 7.0% | ||
| Q3 25 | -13.4% | 4.9% | ||
| Q2 25 | 0.7% | 13.4% | ||
| Q1 25 | -1.7% | 0.1% | ||
| Q4 24 | 51.4% | 5.5% | ||
| Q3 24 | 1.5% | 24.9% | ||
| Q2 24 | -7.5% | 12.2% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | $0.54 | ||
| Q3 25 | $-3.30 | $0.33 | ||
| Q2 25 | $0.17 | $1.09 | ||
| Q1 25 | $-0.38 | $0.00 | ||
| Q4 24 | $11.87 | $0.35 | ||
| Q3 24 | $0.35 | $1.36 | ||
| Q2 24 | $-1.55 | $1.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.5M | — |
| Total DebtLower is stronger | $361.1M | $144.0M |
| Stockholders' EquityBook value | $813.8M | $281.4M |
| Total Assets | $1.6B | $626.7M |
| Debt / EquityLower = less leverage | 0.44× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | — | ||
| Q3 25 | $34.4M | — | ||
| Q2 25 | $46.7M | — | ||
| Q1 25 | $44.0M | — | ||
| Q4 24 | $79.6M | — | ||
| Q3 24 | $35.5M | — | ||
| Q2 24 | $39.6M | — |
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | $144.0M | ||
| Q3 25 | $337.0M | — | ||
| Q2 25 | $330.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $283.4M | $147.5M | ||
| Q3 24 | $1.2B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | $813.8M | — | ||
| Q4 25 | $825.3M | $281.4M | ||
| Q3 25 | $783.0M | $275.3M | ||
| Q2 25 | $836.8M | $273.3M | ||
| Q1 25 | $836.6M | $258.9M | ||
| Q4 24 | $854.6M | $264.2M | ||
| Q3 24 | $664.6M | $260.8M | ||
| Q2 24 | $658.6M | $236.7M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $626.7M | ||
| Q3 25 | $1.6B | $694.9M | ||
| Q2 25 | $1.6B | $671.5M | ||
| Q1 25 | $1.6B | $621.0M | ||
| Q4 24 | $1.7B | $590.0M | ||
| Q3 24 | $2.5B | $665.6M | ||
| Q2 24 | $2.5B | $617.0M |
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | 0.51× | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.39× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.33× | 0.56× | ||
| Q3 24 | 1.73× | — | ||
| Q2 24 | 1.74× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $95.9M |
| Free Cash FlowOCF − Capex | — | $92.8M |
| FCF MarginFCF / Revenue | — | 50.3% |
| Capex IntensityCapex / Revenue | — | 1.7% |
| Cash ConversionOCF / Net Profit | — | 7.47× |
| TTM Free Cash FlowTrailing 4 quarters | — | $63.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | $95.9M | ||
| Q3 25 | $34.0M | $-8.5M | ||
| Q2 25 | $-28.2M | $-11.4M | ||
| Q1 25 | $1.5M | $-1.3M | ||
| Q4 24 | $-35.1M | $74.4M | ||
| Q3 24 | $16.2M | $-14.2M | ||
| Q2 24 | $21.1M | $2.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | $92.8M | ||
| Q3 25 | $15.7M | $-11.4M | ||
| Q2 25 | $-51.1M | $-14.3M | ||
| Q1 25 | $-31.2M | $-3.5M | ||
| Q4 24 | $-68.1M | $70.2M | ||
| Q3 24 | $-30.8M | $-15.2M | ||
| Q2 24 | $3.0M | $836.0K |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | 50.3% | ||
| Q3 25 | 3.9% | -7.1% | ||
| Q2 25 | -13.0% | -7.4% | ||
| Q1 25 | -8.2% | -3.0% | ||
| Q4 24 | -17.6% | 48.9% | ||
| Q3 24 | -7.8% | -11.8% | ||
| Q2 24 | 0.9% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 1.7% | ||
| Q3 25 | 4.6% | 1.8% | ||
| Q2 25 | 5.8% | 1.5% | ||
| Q1 25 | 8.6% | 1.9% | ||
| Q4 24 | 8.5% | 2.9% | ||
| Q3 24 | 12.0% | 0.8% | ||
| Q2 24 | 5.3% | 0.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | 7.47× | ||
| Q3 25 | — | -1.07× | ||
| Q2 25 | -10.44× | -0.44× | ||
| Q1 25 | — | -9.03× | ||
| Q4 24 | -0.18× | 9.41× | ||
| Q3 24 | 2.79× | -0.44× | ||
| Q2 24 | — | 0.10× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLW
Segment breakdown not available.
PLOW
| Work Truck Solutions | $101.5M | 55% |
| Transferred At Point In Time | $83.1M | 45% |
